The Zhitong Finance App learned that with the release of favorable policies, Southbound Capital has continued to increase its positions in Hong Kong stocks recently. Last week, the Hengke Index rose 13% for 5 consecutive days. On April 26 alone, Kuaishou-W (01024) rose more than 7%, Meituan-W (03690) rose 3.6%, and JD Group-SW (09618) rose 5.7%.
Recently, the China Securities Regulatory Commission issued five cooperation measures with Hong Kong, which will help provide incremental capital for the Hong Kong stock market, enhance the medium- to long-term liquidity of Hong Kong stocks, and enhance the attractiveness of financing. Under this influence, Southbound Capital continued to increase its positions in Hong Kong stocks, boosting positive market sentiment.
On April 26, Southbound Capital made a net purchase of HK$1,174 billion. This is already the 20th consecutive trading day that Southbound Capital recorded net purchases. As of the close of the day, the Bank of China, Kuaishou, and the Hong Kong Stock Exchange ranked in the top three net purchases among the south-bound capital purchases. During the year, the cumulative net purchase amount of Southbound Capital increased to HK$207.4 billion. According to the CITIC Construction Investment Research Report's analysis, the recent sharp increase in southbound capital has further consolidated the upward trend in Hong Kong stocks.
It is worth noting that Kuaishou's cumulative increase reached 27.4% last week, leading the Hang Seng Technology sector.
During the 24-year Kuaishou “38 Shopping Festival” event, which recently ended, the number of orders placed on the platform increased 28% year on year, and the GMV of the Pan-Shelf Market increased 145% year over year. Industry analysis points out that big promotions, broad shelves, and live brand broadcasts are expected to promote Kuaishou e-commerce GMV's continued growth during the year.
Everbright Securities released a preview of Kuaishou's performance, stating that Kuaishou's e-commerce ecosystem continues to improve, and Kuaishou's refined operation strategy and product marketing capabilities based on industry attributes continue to improve. External circulation advertising is expected to continue to recover. The valuation is upward elastic, maintaining a “buy” rating, and the target price is HK$89.1.
According to the news, the Kuaishou commercialization team held an automotive industry summit during the Beijing Auto Show. The relevant person in charge pointed out that the short video live streaming platform has become a new infrastructure for automobile distribution, and OEM terminal operations have further penetrated into Kuaishou. According to the data, as of the first quarter of this year, more than 120 car brands and 26,000 dealer accounts have entered Kuaishou, and the total private domain size reached 140 million.